UPDATE 1-Sasol buys stake in Talisman assets for $1 bln

* To buy 50 pct in Talisman’s Farrel Creek assets

* To create a 50/50 partnership to own the assests

* To conduct a joint feasibility study on GTL in Canada

(Adds comments, details)

JOHANNESBURG, Dec 20 (BestGrowthStock) – South African
petrochemicals group Sasol (SOLJ.J: ) has entered an agreement to
buy a 50 percent stake in Canada’s Farrell Creek assets for 7.12
billion rand ($1.05 billion) from Talisman Energy Inc (TLM.TO: )
(TLM.N: ).

Sasol, the world largest producer of fuels from coal, said
the two companies have agreed to establish a 50-50 general
partnership in Canada that will own Farrrel Creek Assets.

The company said on Monday that Talisman will continue to
operate the Farrell Creek assets, associated gas gathering
systems and processing facilities.

The two companies have agreed to jointly conduct a
feasibility study on the economic viability of a gas-to-liquid
facility in western Canada.

They have also agreed to collaborate on other western
Canadian natural resource opportunities.
Talisman, which is also listed on the Toronto and New York
exchanges, is a major producer of gas in the Marcellus shale and
also holds leading positions in the Montney, Utica, and Eagle
Ford shales.
(Reporting by Gugulakhe Lourie; Editing by Jon Herskovitz)

UPDATE 1-Sasol buys stake in Talisman assets for $1 bln